site.btaEU Commissioner Georgieva: Bulgaria Lags In Quality of Living Standards

EU Commissioner Georgieva:Bulgaria Lags In Quality of Living Standards

Plovdiv, Southern Bulgaria, May 13 (BTA) - Bulgaria is lagging in the quality of living standards and the needs of the population, said European Commission Vice President Kristalina Georgieva on Friday. Georgieva presented the Juncker plan before representatives of the Bulgaria business, central and local government at a conference in Plovdiv.

"If we want to catch up, we need an economic growth of 4-5 per cent. We've seen that we can absorb fast and efficiently EU funds, when we want to," said Georgieva.

She recalled that in 2015 Bulgaria ranked second in terms of EU funds absorption but now there is a delay with new programmes which will make available 32 million leva.

According to Georgieva, the main problems included unfinished reforms, the workforce and the lack of good investment conditions.

On the whole Bulgaria fits well within the European Investment Plan, added Georgieva. In a short time Bulgaria concluded three agreements for small and medium sized businesses, of which two are working.

A total of 200 million euro will be made available to small and medium-sized businesses . According to Georgieva just under the first agreement there are 200 approvals.